Stratton v. Bankers Life Co.

This is an action to recover' $2,000 and interest on a policy of life insurance issued by the Bankers Life Company of Des Moines, March 27, 1885. John B. Allen was the insured, and his wife, Mary M. Allen, intervener, was named in the policy as the beneficiary. They owed a debt of $3,500. Prank M. Stratton became their surety therefor. September 5, 1892, they assigned the insurance policy to him as collateral for his suretyship. As surety,- Stratton subsequently paid creditors of insured and wife over $4,000, and they have never reimbursed him. He is plaintiff herein, and the insurer is…